Forrester’s 2023 Predictions for CX, Marketing and Technology Leaders
VOZIQ Team
The only certainty for 2023 is change itself. Executives are setting priorities on shaky ground. The challenge now: How can you keep moving, adjust your strategy, and keep pace with the ever-changing world? Analyst firm Forrester recently released their 2023 predictions for technology, CX, and …
Five Strategic Enablers Of AI-Driven Retention Transformation
Vasudeva Akula
As the complexity of customer churn grows, retention approaches are also evolving to tackle the churn risk and protect customer revenue—and AI can play an instrumental role in that. For many leading recurring revenue businesses, AI is transforming retention by leveraging customer data, advanced analytics …
Applying Gartner’s Analytics Maturity Model To Assess Your Customer Retention Program
Data fuels a customer retention program. Customer data collected from various touchpoints is key to deciphering customer behavior and implementing effective retention strategies by improving customer experience and engagement. A 2013 study by McKinsey found that data-driven organizations are 23 times more likely to outcompete …
3 Reasons Your Retention Investment May Not Be Working
Customer retention has assumed greater importance for recurring revenue businesses today. However, despite this, most companies are still struggling to plug in the leaky revenue bucket. Traditional retention approaches are proving ineffective against customer churn today. It’s mainly because customers are only growing stronger by …
VOZIQ Customer Intelligence Roundup – June Edition
Every month, we put together the best resources from around the web to help recurring revenue businesses navigate customer retention and experience challenges, and stay on top of the latest trends. The June edition of our Customer Intelligence Roundup entails a retrospective as well as …
VOZIQ Customer Intelligence Roundup – May Edition
Every month, we put together the best resources from around the web to help recurring revenue businesses navigate customer retention and experience challenges, and stay on top of the latest trends. The May edition of our Customer Intelligence Roundup entails a retrospective as well as …
How AI Can Predict and Reduce Customer Churn
In highly competitive industries, customer loss direct affects bottom-line growth. As we mentioned in a previous article, if you have one million customers with yearly revenue of $500 per customer, an annual churn rate of 20% can lead to $100 million in loss annually plus …
6 Reasons Why Unstructured Data Is Key to an Effective Retention Program
According to Gartner, as much as 80% of business information is in unstructured form. This information includes customer data captured from contact center agent notes, surveys, emails, chats, and web forms. Traditional customer retention strategies only use structured data because it’s easier for their models …
Why Is Proactive Customer Retention Indispensable in 2022?
The abundance of information and availability of choices have enabled customers so much today. A lot has changed in terms of their expectations since the COVID-19 disrupted the normal way of doing business. Today in 2022, even as the world gradually returns to the pre-COVID …
Why And How You Should Celebrate Customer Retention The Same As Acquisition
Customer acquisition vs. customer retention — the comparison has existed for quite some time, especially with global enterprises realizing the impact of customer churn on the bottom line and long-term growth. But most companies, regardless of size and scale, focus more on new acquisitions. They …
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